According to Venugopal Dhoot, consumption trends continue to remain encouraging though festive demand this year was muted compared to last two years.
The index of industrial production (IIP) data for the month of October declined 35 percent year-on-year raising concerns related to decline in consumer demand.
Speaking to CNBC-TV18, Venugopal Dhoot, CMD, Videocon says IIP data might have been impacted by fewer production days. According to him, consumption trends continue to remain encouraging though festive demand this year was muted compared to last two years.
Dhoot is not worried about the short-term slowdown in consumer durable space and expects strong fundamentals to continue supporting long-term demand trends.
Meanwhile, Dhoot believes the spurt of e-commerce sales has taken the manufacturers by surprise. However, goods availability, discounts by e-commerce players are still questionable, he adds.
Interview transcript to follow shortly
Videocon Ind stock price
On December 17, 2014, at 14:13 hrs Videocon Industries was quoting at Rs 157.75, down Rs 0.6, or 0.38 percent. The 52-week high of the share was Rs 211.05 and the 52-week low was Rs 154.95.
The latest book value of the company is Rs 316.41 per share. At current value, the price-to-book value of the company was 0.50.
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